The smartmoney on-chain analytical platform Lookonchain has informed the crypto community that PolyNetwork may be attacked. The gross sales of 94 billion SHIB for 360 ETH, 495 million COOK for 16 ETH, and 15 million RFuel for 27 ETH, according to Lookonchain, involved some erroneous transactions.
Additionally, Lookonchain reported that hackers moved 1 ETH and cryptocurrency assets to new wallets, possibly with the intention of selling them.
A layer 2 protocol on the Ethereum network, Metis DAO, also tweeted to support Lookonchain’s assertions. According to Metis, it is aware of the ongoing situation with Polybridge and in contact with the PolyNetwork staff. Metis stated that it is striving to lessen the impact of the assault and to further evaluate the situation.
At the time of Metis‘ report, the DAO noted that there was no promoting liquidity available for the newly issued BNB and BUSD on its network. However, it reassured users that every money spent on Metis Andromeda is secure.
It protected the money in accordance with Metis by locking all of the METIS tokens produced by Polybridge. By locking the METIS tokens on the BNBChain, PolyNetwork has limited liquidity.
A blockchain technology called PolyNetwork encourages communication across homogeneous and heterogeneous blockchains. By addressing data-related difficulties with transactions, safety, and trust, it improves the suitability of blockchains.
Perhaps as a result of the volume of liquidity that passes through the community, PolyNetwork has long been a target for hackers. Hackers robbed the public of digital tokens worth around $600 million in August.
Later, the hacker gave back the tokens that had been taken, and the public gave him $500,000 in exchange. The hacker was also invited to join Poly Community as its senior security advisor.